TORONTO, Oct. 30, 2024 /CNW/ - Chesswood Group Limited ("Chesswood") (TSX:CHW.TO) announces that on application by the agent for its syndicate of lenders (the "Syndicate Lenders") under its US$300 million revolving senior secured credit facility (the "Credit Facility"), Chesswood and its subsidiaries have become subject to creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") in Canada pursuant to an order (the "Initial Order") of the Ontario Superior Court of Justice (Commercial List). The Initial Order provides for among other things, a stay of proceedings, the approval of interim financing, and the appointment of FTI Consulting Canada Inc. as the court appointed monitor.
Read more at newswire.caCHESSWOOD GROUP LIMITED LENDERS OBTAIN COURT ORDER FOR CCAA PROCEEDING
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